I've got one of those, they work well and they're small enough to fit into your bicycle purse when you're on-the-go.

Think their main advantage is you can replace the pin if it breaks (I have broken the pins on other tools, but they were not replaceable), so that's kinda nice.

I didn't know you could get replacement pins, thanks for letting me know, I'm not surprised with Park Tools. I bought it for the size too, being able to carry it does help when touring, but mainly I bought it because it's a Park Tool so I knew it would be much better quality than the other one the guy had in. Fitted a new chain to the fixed wheel this morning as the old one was so stretched it wouldn't mesh with the new chainring and it performed brilliantly.

Also, after buying new shoes and pedals I didn't want JackRabbitSlims to shout at me for buying inferior tools!

having bought cheap, crappy tools in the past thinking there wouldn't be much difference and I'd be saving $$......you only do that once....or maybe twice

I've got one of those, they work well and they're small enough to fit into your bicycle purse when you're on-the-go.

Think their main advantage is you can replace the pin if it breaks (I have broken the pins on other tools, but they were not replaceable), so that's kinda nice.

I didn't know you could get replacement pins, thanks for letting me know, I'm not surprised with Park Tools. I bought it for the size too, being able to carry it does help when touring, but mainly I bought it because it's a Park Tool so I knew it would be much better quality than the other one the guy had in. Fitted a new chain to the fixed wheel this morning as the old one was so stretched it wouldn't mesh with the new chainring and it performed brilliantly.

Also, after buying new shoes and pedals I didn't want JackRabbitSlims to shout at me for buying inferior tools!

having bought cheap, crappy tools in the past thinking there wouldn't be much difference and I'd be saving $$......you only do that once....or maybe twice

Yeah, I buy when I need but tend to go for better quality when I do. Not always park, but always something that'll last.

Seeing as I have no use for such a thing (I have no intention of picking up a whole bicycle with a little 4" magnet), I am returning it and getting a telescopic 2lb pull magnet instead. That should be plenty for my purposes.

First off I'll say this, I work on my own cars, not as much as I use to due to advance electronics which I'm too old to care about learning, and my own bikes, as well house repairs. I do not and have never bought a tool set, I only buy tools as the need arises this way I don't have a bunch of tools that I'll never use or have a bunch of the same tools that I also don't need more than one of. I also can use a lot of my tools for bikes that I used on cars so no sense of buying bike specific tools in a lot of cases. Also I weigh the cost of professionally fixing a rare break down of a part that I never ever serviced before vs the cost of the tool to do a job that I may only do once. For example, I had a Cadillac once that had a short heater hose that came out of the back of the engine into another part of the back of the engine and I couldn't reach it with any tool that I had to replace it due to the close proximity of the firewall, so I called around and found out that SnapOn Tools had a specialty tool made to do just that one job for $220, but I also found out that I could have it professionally repaired for just $75, since I wasn't planning on keeping the car the rest of my life I took it in to have it fixed.

So I'm not a big fan on buying tool sets, like I said I only buy tools as I need them and as the situation might demand it. What's really weird is, I do own enough tools to do most things on a bicycle, but since break downs for me are quite rare because I keep on my maintenance like a village nut job, the one tool that I reach for now more than all my tools I have for cycling is the Park MTB 3.2 mini tool! I have one in each of my saddle bags (some have the older 3 model), and it's handy on the bike I don't have to go to the tool chest and get a tool, just open my bag pull out the mini tool and select the tool I want, that darn thing does almost everything I encounter, even other peoples bikes that broke down on the road, I've even used it once to fix a person's broken down car! So I suggest to a first time tool buyer that isn't real heavy into mechanical repairs is to simply buy a mini tool and keep in your saddle bag and you can use it when on the road or at home.

The MTB 3.2 has the most amount of tools of any mini tool on the market, it has stuff for road and MTB's, though the tire levers are a bit wide for road tires, so I carry in my saddle bag a set of Soma Steel Core levers which are unbreakable, I also carry a small cheap pair of folding pliers, and a Presta to Schrader adapter. There are a couple of other tire tools on the market that work quite well, one is the Quik Stik but you have to get the tire started first with levers then slide the Quik Stik in and just rip the bead off the rim real fast, it can also be used in reverse to put a tire on but the width prevents it from putting on a tight fitting tire in that last difficult section; the other one is the Var tire lever model RP-42500-C, this little gem is perfect for getting the last section of a very tight tire onto the rim without worrying about pinching the tube.

I can't work on anything mechanical with gloves on, tried it and hate it. When I worked on my own cars more I use to use Blue Magic Invisible Glove Protective hand coating, just spread it on your hands and under your nails wait about a minute for it to dry then work on greasy gooey black crap and then rinse it off with water and my hands looked like I wasn't working on my car...the only problem with this stuff is if it gets wet while working on something the protection comes off. I haven't used that stuff in awhile I now just scrape my nails against a bar of soap to get the soap under my nails and do what I have to do, when done just wash with Permatex orange pumice hand cleaner.

I buy all my tools from Park except for the tire irons, but that's only because Park is all any LBS I've been in sells, and I don't buy a tool till I need it so into an LBS I go and buy the tool which is always Park. Not saying that Park is the best, just saying that's all I've found whenever I went into an LBS needing a tool, but they do the job without breaking and that's all I ask of a tool.